Intimation under regulation 30 of SEBI(Listing Obligations and Disclsoure Requirements) Regulations, 2015-Acquisation of Company
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Hazoor Multi Projects Limited has acquired a 51% equity stake (10,200 shares) in Vyom Hydrocarbon Private Limited (VHPL) for a cash consideration of Rs. 1,02,000. VHPL was incorporated on 11 August 2023, is based in Gurugram, and operates in the oil & gas services and onshore drilling sector. It has reported zero turnover since incorporation and has a very small capital base (authorized capital of Rs. 15 lakhs, subscribed capital of Rs. 2 lakhs). The acquisition is part of HMPL's plan to diversify into mining, oil & gas, drilling, EPC, and environmental engineering businesses. The deal is not a related party transaction, requires no regulatory approvals, and has already been completed.
The acquisition is financially negligible given the tiny deal size (Rs. 1.02 lakh) and the target's zero revenue, but it signals management's intent to enter the oil & gas and mining sectors. Shareholders should view this as a strategic diversification announcement rather than a value-accretive deal in the near term, with actual results dependent on future business execution by VHPL.